First day of listing GTC on Johannesburg Stock Exchange

  • Market cap of Rx billion at market opening
  • Property portfolio of €1.3bn (c. R20bn)
  • Listed on Warsaw stock exchange since 2004; A top 30 company
  • Total return portfolio
  • High quality Euro based income generating portfolio
  • Unique, secured development pipeline with significant embedded NAV growth potential

Globe Trade Centre S.A. a well-established developer and property manager in the CEE and SEE regions, today became the first Polish inward listed company when it listed on the main board of the Johannesburg Stock Exchange (“JSE”).

The company successfully listed in the “Real Estate Holding and Development” sector. GTC’s primary listing will remain on the main market of the Warsaw Stock Exchange.

“I am very excited about our listing on the JSE today! As the first Polish company listing on the JSE, our balanced portfolio of EUR1.3 billion offers an attractive ‘total return’ proposition to South African investors in high quality assets in Poland and the capitals of high growth CEE and SEE countries, offering significant upward economic potential, as well as a unique, secured development pipeline with significant embedded NAV growth potential” commented GTC CEO, Thomas Kurzmann.

GTC is an owner and developer of primarily Class A office and retail properties located in high demand nodes within Poland and the capital cities Budapest, Bucharest, Belgrade and Zagreb. As at 31 December 2015, the Company’s property portfolio comprised 25 prime commercial properties, including 20 office and five retail properties with a combined commercial space of approximately 524,000 sq. m, three commercial projects under construction and four projects in the planning stage in Warsaw, Belgrade and Budapest respectively.

In 2015, the Company changed its strategy from a pure development approach to the developer and asset manager approach it follows today. The Company’s strategic objective is to expand its portfolio by acquiring yielding properties in Poland and in capital cities of selected CEE and SEE countries that have value added potential.